Inspire Investing LLC Invests $802,000 in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Inspire Investing LLC purchased a new stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 194,688 shares of the company's stock, valued at approximately $802,000. Inspire Investing LLC owned about 0.33% of Eledon Pharmaceuticals as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ELDN. Kera Capital Partners Inc. bought a new position in shares of Eledon Pharmaceuticals in the 4th quarter worth $106,000. Geode Capital Management LLC grew its position in shares of Eledon Pharmaceuticals by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 378,058 shares of the company's stock worth $942,000 after buying an additional 33,569 shares during the period. Clarity Capital Partners LLC bought a new stake in shares of Eledon Pharmaceuticals in the 3rd quarter valued at about $29,000. Nantahala Capital Management LLC acquired a new stake in shares of Eledon Pharmaceuticals in the 2nd quarter valued at approximately $1,584,000. Finally, Renaissance Technologies LLC raised its position in shares of Eledon Pharmaceuticals by 57.1% in the 2nd quarter. Renaissance Technologies LLC now owns 136,773 shares of the company's stock valued at $361,000 after acquiring an additional 49,704 shares during the period. 56.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $16.00 target price on shares of Eledon Pharmaceuticals in a research note on Wednesday, November 20th.

Eledon Pharmaceuticals Stock Up 4.2 %

Eledon Pharmaceuticals stock traded up $0.18 during mid-day trading on Friday, hitting $4.43. 230,547 shares of the company's stock were exchanged, compared to its average volume of 345,415. The company's 50 day simple moving average is $4.28 and its 200-day simple moving average is $3.47. The firm has a market capitalization of $264.65 million, a P/E ratio of -2.20 and a beta of 0.79. Eledon Pharmaceuticals, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). Research analysts expect that Eledon Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

Eledon Pharmaceuticals Profile

Eledon Pharmaceuticals, Inc operates as a clinical stage biotechnology company. The company uses its immunology expertise in targeting the CD40 Ligand (CD40L, also called CD154) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS).